The Council for the Development of Cambodia (CDC) has approved four new industrial investment projects worth USD $25 million which are expected to create over 1,200 jobs in the Kingdom’s Southwest. These new projects located in Kampong Speu province and the surrounding regions cover a diverse range of manufacturing activities, including medical equipment, light bulbs, […]
Invest Cyprus, the state agency dedicated to promoting Cyprus as an international investment destination, on Tuesday announced that it took part in the prestigious technology event Viva Technology held in Paris from May 22 to 25, allowing it to showcase the island’s credentials as a technology and business centre. Viva Technology is a leading event in […]
Tototheo Maritime, a group of companies offering a range of services in the field of maritime satellite communication technologies, on Wednesday announced its strategic rebranding to Tototheo Global. “This significant milestone marks Tototheo’s evolution to a global leader in technology solutions,” the announcement said, noting that “Tototheo Global is now set to deliver comprehensive, innovative […]
The Cyprus Shipping Chamber (CSC) this week expressed its approval of the recent call by EU Member States for a comprehensive European Maritime Industrial Strategy aimed at bolstering the competitiveness of the maritime sector. It should be noted that this call was formally adopted through an EU Council Conclusion on Friday, May 24. In a […]
The Cyprus Research and Innovation Foundation (RIF) on Wednesday announced three new national funding programmes aimed at enhancing research excellence and increasing participation and success in the European Research Council (ERC), in the context of Horizon Europe. According to the announcement, the total budget allocated for these schemes amounts to €1.8 million. Vision ERC The foundation explained that the first […]
Increased interest income, driven by successive interest rate hikes from the European Central Bank (ECB), has significantly boosted Cypriot banks’ profits in the first quarter of 2024, which amounted to €226 million during this time. A detailed review of banks’ financial results for this quarter reveals that these interest rate hikes have led to a […]
The ten most expensive property sales in Cyprus amounted to an impressive €16.2 million in April of this year, with Limassol continuing to feature prominently at the higher end of the market, according to a report released on Wednesday by real estate analytics firm Ask Wire. The highlight of these high-profile transactions was a house in Paphos’ Kouklia, which sold for a […]
The IMF also praised Cyprus’ economic resilience, projecting steady growth in the coming years. The International Monetary Fund (IMF) on Wednesday praised Cyprus for its strong economic recovery and fiscal discipline, while also recommending continued efforts to reduce public debt and address long-term needs following the latest Article IV consultation with the country. The executive board approved the […]
Cyprus witnessed a marginal rise in its ship management revenues in the latter half of 2023, which climbed to €638 million, up from €623 million in the preceding half-year. However, this represents a slight dip from the €648m recorded in the latter half of 2022, according to data released by the Central Bank of Cyprus. […]
Invest Cyprus, the state agency dedicated to promoting Cyprus as an international investment destination, on Tuesday announced that it took part in the prestigious technology event Viva Technology held in Paris from May 22 to 25, allowing it to showcase the island’s credentials as a technology and business centre. Viva Technology is a leading event in the technology […]
Chief Scientist Demetris Skourides recently visited the Cyprus Institute of Neurology and Genetics (CING) where he praised the Department of Bioinformatics (C-BIG) for its exceptional expertise and diverse specialisations. According to a CING press release, Skourides emphasised the importance of developing multi-disciplinary scientific teams, highlighting the transformative impact of artificial intelligence on value creation and […]
In response to the rapid advancements in financial, regulatory, and supervisory technology (FinTech, RegTech, and SupTech), the Cyprus Securities and Exchange Commission (CySEC) on Tuesday announced the launch of its Regulatory Sandbox. This initiative represents the evolution of its previous Innovation Hub and is designed to offer a controlled environment for the testing of innovative solutions, under […]
The president of the Republic of Cyprus, Nikos Christodoulides, and the emir of Qatar, Sheikh Tamim bin Hamad Al Thani, on Tuesday expressed their mutual commitment to enhancing bilateral relations during the emir’s first official visit to Cyprus. The emir arrived at the Presidential Palace accompanied by several Qatari ministers. He was greeted by Christodoulides. […]
Limassol Municipality is expected to issue a building permit by the end of May for the Aura project, which will become Cyprus’s tallest building at 181.5 metres with 44 floors. The skyscraper will be constructed on the former site of the ERA Olympia shopping centre. Investors are finalising agreements to comply with compensatory measures set […]
Deputy Minister of Tourism Kostas Koumis pointed out the imperative of preserving tourist hotspots, particularly beaches, at the Cyprus Sustainable Tourism Initiative (CSTI) event titled ‘Beach without Plastics’. The gathering took place at Kampouri Beach in Ayia Napa, drawing attention to the ongoing efforts to reduce plastic use in these vital areas. “Beaches are undoubtedly […]
Transport Minister Alexis Vafeades underlined the government’s commitment to safeguarding public interest during his speech at the 29th annual general assembly of the Federation of Building Contractors Associations of Cyprus. Representing the President of the Republic, Minister Vafeadis highlighted the delicate balance between strong governmental partnerships and the upholding of public interest. In his address, […]